Fed keeps interest rates unchanged
The strong momentum in the market upended with the U.S. Federal Reserve's decision of keeping interest rates unchanged on Thursday.
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US Federal Reserve chief Janet Yellen late on Thursday announced no change in the interest rates in the world's largest economy. The Fed has not raised interest rates since 2006 and investors are concerned that a further delay will keep markets on the edge.
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Market experts believe that the decision will now enable factors for RBI to cut rates, which could give some more boost to the Indian economy that is again showing signs of stagnation.
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Some experts also said that the US Fed's decision to not increase rates is positive for interest rates in India, which are now expected to come down.
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Going by the US Fed, rate hike in December seems to be uncertain. With Yellen deciding not to hike rate, which could otherwise have been the first such decision in nearly a decade, FIIs are expected to keep faith in the Indian stock market for the next few months.